{"id":23703,"date":"2016-08-23T15:47:18","date_gmt":"2016-08-23T08:47:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/invest-in-real-estate-tax-amnesty-participants-in-indonesia-urged\/"},"modified":"2016-08-23T15:53:18","modified_gmt":"2016-08-23T08:53:18","slug":"invest-in-real-estate-tax-amnesty-participants-in-indonesia-urged","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/invest-in-real-estate-tax-amnesty-participants-in-indonesia-urged\/","title":{"rendered":"Invest in real estate, tax amnesty participants in Indonesia urged"},"content":{"rendered":"


\nOr face \u201chell,\u201d Finance Minister warns
\nView of Surabaya City, Indonesia. Image credit: Andreas Hie\/Shutterstock
\nThose granted amnesty under the Indonesian government\u2019s program of tax repatriation are being encouraged to pour their money back into real estate.
\nAt a seminar in Jakarta on Friday, Financial Services Authority head Muliaman Hadad urged beneficiaries of the program to channel the funds into a real estate investment trust (REIT) or KIK-DIRE. The market value of Indonesian REITs \u201cwould be promising for years to come after the easing on tax burden,\u201d Muliaman told The Jakarta Post.
\n\u201cIt would be more enticing than the similar market in Singapore,\u201d Muliaman said.
\nBank Tabungan Negara, a government-accredited channel for repatriated funds under the tax amnesty, estimated that IDR5 trillion (USD378 million) to IDR10 trillion (USD757 million) could be invested in KIK-DIRE. Another property-related investment vehicle, KIK-EBA or mortgage-backed security, is expected to attract IDR5 trillion.
\nThe bank expects to be a gateway for IDR50 trillion (USD3.8 billion) in repatriated funds. Thirty-percent could flow into KIK-DIRE and KIK-EBA.
\nMore: Will Indonesia be SE Asia\u2019s new tax-haven paradise?
\nIndonesia\u2019s tax amnesty program took effect last month with the promise of penalty fees as low as 2 to 4 percent for natives who have declared capital stashed overseas. \u201cThis is the opportunity for you to go to heaven with only 2 percent (for tax penalty) and all of your sins have been deleted,\u201d Indonesian Finance Minister Sri Mulyani Indrawati said on Friday.
\nShe threatened affluent entrepreneurs in the country that she held video evidence of them confessing to tax evasion.
\nThe Indonesian government is scrambling to hit a target of IDR1 quadrillion (USD75.7 trillion) in repatriated funds, out of IDR4 quadrillion (USD303 trillion) in declared taxpayers\u2019 assets, by March. This week, the Indonesian government revealed that it had so far repatriated funds amounting to IDR1.51 trillion (USD114 million) and collected IDR947 billion (USD71.7 million) in penalty payments, which means that less than 1 percent of the targets have been met.
\n\u201cBig players who have a great amount of assets have yet to participate in the amnesty program,\u201d the Finance Ministry\u2019s director general for taxation Ken Dwijugiasteadi said.
\nRead next: Lower transfer fees aim to reinvigorate Indonesian property market
\n
\nSource : property-report.com
\nRead more…Invest in real estate, tax amnesty participants in Indonesia urged<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Or face \u201chell,\u201d Finance Minister warns View of Surabaya City, Indonesia. Image credit: Andreas Hie\/Shutterstock...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-23703","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6aj","jetpack-related-posts":[{"id":28509,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/indonesians-make-last-ditch-application-for-tax-amnesty\/","url_meta":{"origin":23703,"position":0},"title":"Indonesians make last-ditch application for tax amnesty","date":"October 4, 2016","format":false,"excerpt":"\r The queues ran long and late into the night Traffic in Jakarta. Kichigin\/Shutterstock Around 2,750 people lined up at Indonesia\u2019s tax headquarters to beat the deadline of the first phase of the tax amnesty program \u2014 with some even queuing up until late night. In a handwritten letter to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29481,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-joy-of-tax-3-things-weve-learned-about-real-estate-taxes-in-indonesia\/","url_meta":{"origin":23703,"position":1},"title":"The joy of tax: 3 things we\u2019ve learned about real estate taxes in Indonesia","date":"October 11, 2016","format":false,"excerpt":"\r Tax amnesty, tax havens and luxury taxes in Indonesia \u2013 it\u2019s all going on Africa Studio\/Shuttershock Tax, the second most interesting word in the English language ending with \u2018x\u2019, is cropping up in Indonesian property news a lot lately. With current growth figures nothing to celebrate \u2013 a far\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23027,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-indonesia-be-se-asias-new-tax-haven-paradise\/","url_meta":{"origin":23703,"position":2},"title":"Will Indonesia be SE Asia\u2019s new tax-haven paradise?","date":"August 16, 2016","format":false,"excerpt":"\r Several islands in Indonesia and Malaysia may share the spotlight with Singapore Dawn over Bintang, Indonesia. Image credit: julfran (Flickr) To meet its infrastructure targets and bridge a growing budget deficit, the Indonesian government is discussing the possibility of establishing tax haven jurisdictions in two of its islands. Coordinating\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28767,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-market-unaffected-by-indonesian-tax-amnesty-2\/","url_meta":{"origin":23703,"position":3},"title":"Singapore home market unaffected by Indonesian tax amnesty","date":"October 6, 2016","format":false,"excerpt":"\r Lower than expected liquidation since the introduction of the tax amnesty program The implementation of the Tax Amnesty Scheme (TAS) in Indonesia has not had any material impact on Singapore\u2019s residential segment, said Credit Suisse in a report. Credit Suisse noted that Indonesians have historically been amongst the largest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20836,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lower-transfer-fees-aim-to-reinvigorate-indonesian-property-market\/","url_meta":{"origin":23703,"position":4},"title":"Lower transfer fees aim to reinvigorate Indonesian property market","date":"July 26, 2016","format":false,"excerpt":"\r Trying a different tact to boost a slow property market, the government will make BPHTB cheaper than ever Simpang Semanggi, a clover-like intersection in Jakarta. Image credit: Muhammad Rasyid Prabowo (Flickr) For its fourth economic stimulus package, Indonesia is cutting its property transfer fee (BPHTB) from 5 percent to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34232,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/indonesias-tax-amnesty-pumps-confidence-back-into-property\/","url_meta":{"origin":23703,"position":5},"title":"Indonesia\u2019s tax amnesty pumps confidence back into property","date":"November 14, 2016","format":false,"excerpt":"\r New infrastructure developments will open up opportunities A promising future for Indonesia\u2019s real estate market. Image: Naruedom Yaempongsa\/Shutterstock By Todd Lauchlan The hottest topic in Indonesian politics right now is undoubtedly the tax amnesty program. Despite early reports that \u201cconfessions\u201d and both domestic and repatriated funds were only trickling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23703"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=23703"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23703\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=23703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=23703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=23703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}